NEW YORK CITY-Housing construction is up sharply in New York City. A New York Building Congress report states that housing building permits here were up 19% in 2012 as compared to the year before.
The number of units receiving building permits climbed to 10,559 in 2012 as compared to 2011′s total of 8,936. Housing building permit activity last year was 74% higher than in 2009 when 6,057 units received permits.
“The residential market is steadily climbing back from the doldrums of 2009 and 2010,” states Richard Anderson, president of the New York Building Congress. “While we are likely to remain well below the peak attained in the middle of the previous decade, the latest data is encouraging nonetheless.” See story in Crain’s New York Business.